Ademi LLP is investigating Flushing (NASDAQ: FFIC) for possible breaches of fiduciary duty and other violations of law in its recently announced transaction with OceanFirst.
In the transaction, Flushing stockholders will be entitled to receive 0.85x of a share of OceanFirst common stock for each share of Flushing common stock. Based on OceanFirst’s closing stock price on December 26, 2025 of $19.76, the transaction is valued at $579 million Flushing insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Flushing by imposing a significant penalty if Flushing accepts a competing bid. We are investigating the conduct of the Flushing board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
Join this Action